Strong copper price drives mine work

BCD Resources says the high price of copper is behind its decision to speed up plans to develop copper mines near Stavely and Ararat in south-west Victoria.

The company's general manager of exploration, Peter Thompson, says early next year it will study the feasibility of creating several mines and a central copper processing plant.

He says the results of copper exploration in the area have been promising.

Mr Thompson says BCD wants to take advantage of China's continuing high demand for copper.

"The copper prices have firmed very strongly, currently at $3.75 a pound, and that's virtually an all-time high, and supporting that, the forecast prices, out for four years, are very strong as well, so we need to take this opportunity while prices are strong to try and promote the project and progress it," he said.